You Freepers don't need to worry about this major breach in the dike because my highly competent team and I have everything under control.
Posted on 06/10/2011 5:20:02 AM PDT by Zakeet
The first Western downgrade of US government bonds is a fact! The German credit rating agency Feri lowered its rating on US debt by a full notch, from AAA to AA.
Here is the German press release: Feri Downgrades US Gov Debt AAA to AA
The English translation:
Homburg, 8 June 2011 - The Bad Homburg Feri EuroRating & Research AG downgraded the first credit rating agency's credit rating for the United States from AAA to AA. Feri analysts justify the downgrade by the continuing deterioration of the creditworthiness of the country due to high public debt, inadequate fiscal measures, and weaker growth prospects."The U.S. government has fought the effects of the financial market crisis primarily by an increase in government debt. We do not see that there is sufficient attention being paid to other measures, "said Dr. Tobias Schmidt, CEO of Feri Rating & Research AG. "Our rating system shows a deterioration in economic health, so the downgrading of the credit ratings of U.S. is warranted."
For the third consecutive year the deficit of the United States is in double digit percentages relative to gross domestic product (GDP). "Deficits of such magnitude are not a sustainable fiscal policy. We would reconsider the rating when the U.S. government creates a long-term sustainable budget," said Schmidt.
Feri Rating is listed on the Federal Financial Supervisory Authority (BaFin) as an EU credit rating agency approved and created with more than 20 years experience in sovereign ratings. Every month, the Feri analysts evaluate sovereign credit ratings from the perspective of a foreign investor based on the ability and willingness of countries to repay their debts. The credit ratings have eleven possible gradations between "AAA" (best credit) and "Default".
You Freepers don't need to worry about this major breach in the dike because my highly competent team and I have everything under control.
Obama’s plan is working beautifully.
The best way to fix this would be to balance the budget and cease issuing bonds.
Ich bin ein Bondlowerer
When the interest rates we pay go up because we have to sell the debt to someone other than the Fed and with a weaker credit rating we are s-c-r-e-w-e-d.
We’ll be selling Alaska back to the Russians and our continental shelf to the ChiComs.
/barf
Seriously, what is the end game here other than the intentional collapse of our economy? There can't be any other objective, everything they do leads that way.
Communism Kills!
Uh oh...the Chinese, who hold billions of our shrinking dollars, won’t like this a bit.
I really loathe this admn like you can’t believe.
Each bond can be redeemed for a jelly-filled donut.
Writin’s on the wall!
Pretty soon, a can of baked beans will be worth its weight in... ummm, well, BAKED BEANS!!
Is this because of failure to allow our debt (ceiling) to increase or is it because of reckless spending and borrowing with no hope of ever paying it back?
If you treated the US Govt. like most law firms do concerning the prospecti of municipal and corporate bonds, a BBB+ or A- (negative outlook) would be a more realistic rating of US Treasury bonds.
And now we know what Obama was tending to in Europe and why his economic rats are leaving the ship.
Hope for spare change
Didn’t that one lady on the news say nObama got all the money from his “stash or somp’n” ? Cante jus git some mo’ from his stash ?
The first time our debt is downgraded doesn’t make breaking news but another article on Palin’s emails does?
Now wait a minute. I thought King Zero just warned Europe about its financial situation? Kind of blew back in his face, didn’t it?
Guess Merkel didn’t care for her big shindig with the always impressive BO and Company...must have been some bad struedel...
There are no adequate words to describe 0bama and his minions/puppet masters.
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